Grizzlies trade Rudy Gay to Raptors in three-team deal with Pistons

The Memphis Grizzlies have traded forward Rudy Gay to the Toronto Raptors.

The Grizzlies receive point guard Jose Calderon as part of the deal, and routed Calderon's $10.5 million expiring contract to the Detroit Pistons for a package that includes forwards Tayshaun Prince and Austin Daye. The Raptors also sent forward Ed Davis and a second-round pick to the Grizzlies. Memphis sent center Hamed Haddadi to the Raptors.

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Gay, 26, is averaging 17.2 points and 5.9 rebounds.

Under new owner Robert Pera, Memphis has been desperate to unload contracts for the short- and long-term. In Prince, the Grizzlies get a respected, if not aging, small forward who'll give them considerable savings over the $37 million owed Gay the next two seasons.

Prince, who turns 33 on Feb. 28, has played his entire 11-year career with Detroit. He's averaging 11.8 points and 4.6 rebounds this season. He had been a vital member of seven Pistons playoff teams, including the one that won the 2004 championship.

Calderon will be a free agent this summer.

Detroit clears the final two years, $15 million left on Prince's deal, and moves nearly $25 million under the salary cap beginning with free agency in July. The Pistons are now in the market for two young perimeter players to build around their promising young core of Greg Monroe, center Andre Drummond and guard Brandon Knight.